In the dynamic logistics landscape of Singapore, startup founders often face a critical challenge — securing the financial muscle to scale operations while managing fluctuating cash flows. For Gan Hong, co-founder of Park N Parcel, this was a very real concern.
Founded in 2016, Park N Parcel set out to revolutionize the logistics ecosystem by offering smart, last-mile delivery solutions including fulfillment, collection points, deliveries, and returns. As with many startups in their early years, cash flow constraints and limited access to traditional financing created roadblocks to scaling.
But a partnership with GB Helios changed that trajectory.
The Financing Hurdle for Startups in Singapore
Singapore is home to over 300,000 SMEs, accounting for 99% of all enterprises and 47% of GDP. However,the majority of SMEs in Singapore struggle with cash flow issues, and access to credit remains a top concern — especially for startups without a proven profit record.
“As a startup, it is always hard to find investors or credit facilities to fuel the company’s growth, especially when the company is not making any profits yet,” says Gan Hong.
Like many fast-growing startups, Park N Parcel faced the classic “growth paradox” — more demand required more operational spending, yet delayed receivables from clients left their working capital stretched.
Finding a Financing Partner: GB Helios
Gan Hong was introduced to GB Helios, and that recommendation proved pivotal.
“When I was recommended to GB Helios, I realized they are very receptive to ideas and willing to explore potential ways to work with startups to grow together,” he says. “Unlike other financial institutions that only look at your current financials, GB Helios is willing to understand and see how they can help fill in this gap.”
This forward-thinking approach made GB Helios stand out. While conventional banks often require strict profitability or collateral, GB Helios assessed the growth potential, business model, and the invoice flow of Park N Parcel.
Solutions That Worked: Invoice Factoring and Revolving Credit
To tackle Park N Parcel’s cash flow challenges, GB Helios offered two tailored financial solutions:
1. Invoice Factoring
This enabled Park N Parcel to convert outstanding invoices into immediate cash, unlocking working capital without taking on debt. Rather than waiting 30, 60, or even 90 days for clients to pay, the company could access funds within days — critical for fueling operational activities like hiring, deliveries, and warehouse expansion.
In Singapore, the factoring volume increased by 25%, hitting nearly SGD 6 billion in 2023, reflecting rising adoption among SMEs that prefer flexible, non-debt financing options.
2. Revolving Credit Facility
In addition, the revolving credit facility allowed the business to draw funds as needed, with interest charged only on the amount used — a significant advantage for managing cash flow variability in logistics operations, where costs can spike unexpectedly.
Responsive Support and Relationship-Based Financing
“The team is always on the ball, responding actively to customer needs, regardless of their size,” says Gan Hong. “They try their best to help and provide solutions to your cash flow issues.”
This responsiveness is especially important in sectors like logistics, where delays and inefficiencies directly impact customer satisfaction. GB Helios not only provided capital but also acted as a strategic partner that supported Park N Parcel’s operational rhythm.
Business Impact
With financing support in place, Park N Parcel was able to:
- Expand its logistics network, including new collection points and delivery partnerships.
- Scale operations to meet growing B2B and e-commerce demands, especially as last-mile delivery gained importance post-COVID.
- Invest in fulfillment technologies and customer service enhancements to retain clients and attract new business.
The ability to inject capital precisely when needed gave Park N Parcel the agility to compete with larger players in the logistics field — without sacrificing financial stability.
The Singapore SME Financing Landscape
Startups and SMEs in Singapore continue to face financing gaps, despite the country’s reputation as a startup-friendly hub. While government initiatives like Enterprise Financing Scheme (EFS) and Startup SG have improved access to funds, private financial players like GB Helios play a critical role in offering agile, relationship-based solutions that meet real business needs.
A Partner in Growth
For Park N Parcel, GB Helios proved to be more than just a financier — they were a partner in growth.
“I’ll definitely introduce GB Helios to all companies that need a true reliable financing partner to grow together,” says Gan Hong.
In a climate where access to timely capital can make or break a business, GB Helios offers a rare blend of flexibility, understanding, and speed — qualities that make them a valuable ally for ambitious startups in Singapore’s evolving economy.